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How Wealth Accumulators Can Use Trusts To Avoid State Income Tax

by admin | Jul 20, 2019 | Tax

Originally published on Forbes.com. “Put not your trust in money, but put your money in trust” comes from the Autocrat of the Breakfast Table by Oliver Wendell Holmes Sr. The context was advice to young women about to be married and is probably reflective...

CPA Sinks Under Millions In Aiding And Abetting Penalties On Mariners Deductions

by admin | Jul 13, 2019 | Tax

Originally published on Forbes.com. The IRS was looking for $5,167,000 in Code Section 6701 penalties (Aiding and abetting understatement of tax liability) from Martin A Kapp CPA EA. Special Trial Judge Peter Panuthos of the Tax Court in his decision knocked it down...

Joe Biden’s Tax Returns – No Reason Democrats Need To Overpay Their Taxes

by admin | Jul 10, 2019 | Tax

Originally published on Forbes.com. Richard Rubin of the Wall Street Journal had some commentary on Joe Biden’s recently released tax returns that struck me as just a little bit off. In a piece titled Joe Biden Used Tax-Code Loopholes Obama Tried To Plug, he...

Florida Man Blows IRA Bankruptcy Protection

by admin | Jul 9, 2019 | Tax

Originally published on Forbes.com. The Individual Retirement Account (IRA) is a great tax vehicle allowing an immediate deduction and tax-deferred growth or (in its deferred-gratification Roth form) tax-free growth. But that’s not all. The IRA can also be an...

Clever Techniques To Defer Capital Gains – Maybe Too Clever

by admin | Jul 8, 2019 | Tax

Originally published on Forbes.com. Back in the day, there was a strong sense that a tax deferred was almost as good as a tax avoided. A long period of low interest rates has shifted attitudes in that regard. Nonetheless, deferral of a large capital gains tax,...

Cannabis Company Harborside Goes Public – Will Appeal Multi-million $ Tax Court Ruling

by admin | Jul 1, 2019 | Tax

Originally published on Forbes.com. Harborside, Inc, a pioneer in the legal marijuana business founded by Steve DeAngelo and dress wedding has hired Greenspoon Marder to represent it in the appeal of a Tax Court decision to the Ninth Circuit. Greenspoon Marder, a...